SPRING MARKET AND COVID-19
We never could have expected to have the start to 2020 that we have had. Coming down from a very busy 2019, the New Year brought new business goals, and hopes soaring high.
Over the last few months we were faced with the hard reality that our business model, our goals must all be adjusted if not thrown out. Open houses had been cancelled, working remotely including attorneys and towns, sellers put listing on the back burner, interest rates dropped, unemployment spiked, buyers have been active on the internet searching.. Company events, training and meetings cancelled or gone virtual. As agents we've all handled the pandemic differently. With so much uncertainty some agents had been frozen in time unable to adapt, while others have had to grab the reins and reinvent the wheel. As a career where you work months for a paycheck, you can't afford to sit idle. The days wasted today will affect future of your business if you are not working and sowing seeds.
I had always said I am apart of the Middletown office but I work virtually and only go to drop off checks, which proved to be more true than ever. While I took a moment to sit, process, reflect at what this new world is we live in and what is important I pushed forward as most in any and every way I could. Mostly everything we do as agents can be done from a computer. Research, Marketing, data input, and connections through social media. We've had to embrace what we are offered from the company, stay connected and be creative. Despite being socially distanced our office went virtual with weekly meetings where before I never would have been able to go to I now feel more connected than ever. Thank you Manager Lisa!
SO it’s been MONTHS, What is actually happening this Spring Market!?
What we saw happen was an industry that really never sleeps ..Buyers and sellers buy and sell for all different reasons and the need is still there. I've been seeing more NYC buyers coming into the state looking for country homes. I have also seem families just too cramped in their homes, or others looking to downsize and simplify. Horse owners have been restricted from seeing their horses which have made them reevaluate their boarding situation. This time has given us all time to reflect on what is important and where do we want to be in the BIG picture of life and our homes.. While there was a pause real estate continued, just in a very different way. Closings were done through the mail or car windows. Some drive by appraisals done. Inspections continued. Connections are made. Offers submitted, houses sold. We are still physically showing in masks however Virtual tours and videos came rushing to the scene. Virtual tours makes showing homes easily accessible and safe while weeding out buyers who may not be a good fit. I have noticed agents coming together being flexible and adaptable to get showings done, and properties under contract. It has been very surreal and I appreciate the understanding and patience of every seller, buyer, agents, lenders, inspectors and attorneys working to get deals done in this time. It takes a village.
Where are awe NOW? When should I list? The state is opening back up and we currently have a market with insanely LOW inventory, less than HALF of what we normally have for a Spring Market. However there are STILL buyers, many BUYERS. It is a SELLERS market. Competitive buyers are driving prices up and selling homes quickly. Sellers if you are thinking of selling, NOW is absolutely the time. Buyers have your approvals ready and be prepared to move swiftly. Each day more listings are coming on and will continue to see this market into Summer.
Stay safe and healthy everyone and know Summer IS new SPRING MARKET!
11/28/2022 11:58:59 am
Great bblog post
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Kelly S Ryan
William Raveis Real Estate